Standard Uranium to raise $3.5M in stock and warrants offering

Sep. 07, 2022 5:06 AM ETStandard Uranium Ltd. (STTDF), STND:CABy: Meghavi Singh, SA News Editor
  • Standard Uranium (OTCQB:STTDF) said Wednesday that it will conduct a non-brokered private placement of any combination of units of the company at a price of C$0.11 per unit, and flow-through units of the company at a price of C$0.13 per FT unit to raise gross proceeds of up to C$3.5M.
  • Each Unit will consist of one common share of the company and one half of one common share purchase warrant.
  • Each FT Unit will consist of one common share of the company and one half of one warrant.
  • Each whole warrant shall entitle the holder to purchase one common share of the company at a price of C$0.17 for a period of 24 months from the closing date of the Financing.
  • Net proceeds from the offering will be used for the exploration of the company's projects and for working capital purposes.
  • Proceeds from the sale of FT Shares will be used to incur “Canadian exploration expenses” and “flow through mining expenditures”.
  • All securities issued in connection with the Offering will have a hold period of four months and one day from the closing date.

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